RIBO-Level-1 Practice Questions

A.  

Ask coworkers for course recommendations and have the brokerage track CE credits on your behalf.

B.  

Browse social media for insurance trends and attend networking events so that your informal conversations with colleagues can be used towards CE credits.

C.  

Review the RIBO website for current CE requirements and renewal date, then enroll in relevant courses on emerging topics.

D.  

Take only management courses because they are perceived as easier to complete.

A.  

To facilitate public knowledge of the Ontario Auto and Homeowners Policies.

B.  

To regulate the insurers’ coverage and premiums in Ontario for the fair treatment of consumers.

C.  

To regulate and promote the fair treatment of the Canadian consumer.

D.  

To facilitate and promote an efficient and effective insurance regulatory system in Canada to serve the public interest.

A.  

Damage to a ride-on lawn mower rented from a local rent-all establishment.

B.  

Damage caused by a guest, who backed an automobile into a portable barbecue which the insured had borrowed from a neighbour.

C.  

Property of others damaged intentionally by the insured's 10 year old son.

D.  

Theft from insured's premises of a shotgun on loan from a local sporting goods store.

A.  

A client re-paints the interior of their home.

B.  

A client installs a woodstove at their cottage.

C.  

A client replaces worn carpeting in their home.

D.  

A client installs a ceiling fan in their bedroom.

A.  

Endorse their Tenants policy to show the new address and add building coverage in the amount of the purchase price of the house.

B.  

Use a Home Calculator to estimate the replacement cost of the house.

C.  

Check into the security arrangements in the house as it may affect the premium to be charged.

D.  

Cancel their Tenant policy and re-write their insurance as a Homeowners policy.

A.  

Complete 2 years of experience as a Level 1 broker and pass the Level 2 (Technical) examination.

B.  

Complete 1 year of experience as a Level 1 broker and obtain a recommendation from their Principal Broker.

C.  

Simply complete 24 hours of Continuing Education (CE) credits in a single year.

D.  

There is no longer a Level 2; all brokers move directly from Level 1 to Level 3 Management.

A.  

The excluded driver is still covered for $200,000 in liability if they drive in an emergency.

B.  

The excluded driver will not receive coverage for "most Accident Benefits" if they are injured while driving the insured vehicle.

C.  

The vehicle is covered for fire and theft even if the excluded driver is behind the wheel.

D.  

The insurer is still required to provide a legal defense for the excluded driver in a lawsuit.

A.  

Neither party is At Fault when a collision occurs and each party pays their own deductible.

B.  

The Third Party’s insurance policy pays for the damages.

C.  

Each party claims damages through their own policy and pays their deductible based on the percentage they are deemed to be at fault.

D.  

When a collision occurs in a parking lot or on private property, fault determination rules do not apply.

A.  

12:01 pm October 1st, 2025.

B.  

12:01 am September 1st, 2026.

C.  

9:00 pm September 1st, 2026.

D.  

12:01 am October 1st, 2025.

A.  

10% of the total amount of insurance

B.  

Obtained by dividing the amount of insurance in the proportions that the value of each structure bears to the total value of both structures at the time of loss

C.  

Obtained by dividing the amount of insurance by the number of structures

D.  

An amount equal to the value of the damaged structure without regard to other structures